Source: News Bharati English30 Jan 2017 17:25:11

New Delhi, January 30: Bharatiya Janata Party (BJP) today alleged that fugitive industrialist Vijay Mallya had a nexus with the former Congress government. Briefing media, party spokesperson Sambit Patra said Mallya wrote to then Prime Minister Manmohan Singh seeking indulgence to help him secure loans.Patra said that it was under the Congress government that Mallya was first granted a loan despite his company being declared a non-profiting asset and the banks were not ready to sanction the loan. It's a very big question and none other than the President and the Vice President of the congress should answer this. Also We have certain emails, letters and correspondence that will expose these hands.
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The question was if an ordinary man goes to take loan then the paper work has to be complete only after a complete paper work and after a lot of grilling, a man is entitled to get a hefty loan. But how is it that a business man like Vijay Mallya could procure loans worth Rs. 9,000 crore without proper paper works, without proper accounts. And how could he dupe a consortium of banks and the Government of India is a question which has been looming large," he added.Embeded ObjectThe first loan was granted to Vijay Mallya in 2004 and then on February 7, 2008. Despite his cost declared NPA, restructuring of his loan was done in December 21, 2010. Even the Supreme Court had asked as to why the banks continued to lend money if they had managed to recover only one-tenth of what they had lend, he added.

Mallya had taken the loans to help his airlines Kingfisher. He flew to London on March 2. Mallya defunct Kingfisher Airlines owes more than Rs 9,000 crore to 17 banks.Embeded Object